ThyssenKrupp Services AG, headquartered in Dusseldorf, announced Monday that it has acquired Alcoa Inc.'s Aerospace Service Business, a provider of high-grade, value-added processing services for aircraft manufacturers. Financial terms were not disclosed.
The Aerospace Service Business had sales of $99.33 million in 2005.
The transaction was completed by three ThyssenKrupp Services' subsidiaries in the U.S., the UK, and Germany.
In North America, ThyssenKrupp Services acquired aluminum inventories plus service and supply contracts to the aerospace industry.
In the UK, ThyssenKrupp Services will acquire the Aluminum Supply Aerospace (ASA) business unit including 100 employees, as well as two service centers in Manchester and Northern Ireland.
On the European Continent, ThyssenKrupp's Services segment acquired the Aerospace Service Business, along with services, supply contracts and inventories.
In North America, ThyssenKrupp Services acquired aluminum inventories plus service and supply contracts to the aerospace industry.
According to Joachim Limberg, Executive Board member at ThyssenKrupp Services, the acquisition will strengthen ThyssenKrupp Services' presence as a systems supplier to the aerospace industry.
Currently, ThyssenKrupp Services has subsidiaries in Brazil, France, the UK, Germany, and North America.